VF Corp is thinking about a sale or derivative of its denim industry, assets advised The Wall Boulevard Magazine on Friday. The attire and shoes corporate owns widespread denim manufacturers Wrangler and Lee, along side smaller manufacturers Rustlers and Rock & Republic.
In accordance with the denim industry’ gross sales, it might be valued at a number of billion bucks. The department posted $2.66 billion in gross sales and $422 million in benefit ultimate 12 months. Since 2015, gross sales have fallen five % and benefit has fallen 2 %.
The decline in VF’s denim industry has paralleled general trade developments. Denims gross sales within the U.S. have been $16.2 billion ultimate 12 months, a lower from 2013, when the trade had $18.eight billion in overall gross sales.
VF Corp stocks rose following information of a possible sale or derivative, achieving a 52-week prime of $97.
Ultimate month, the corporate reported fiscal first-quarter income that beat Wall Boulevard analysts’ expectancies. VF’s different most sensible manufacturers come with sneaker emblem Vehicles, outerwear store The North Face and boots maker Timberland.